18 Griswold Ave · Troy, NY 12180

$160,000

3 bd · 1.5 ba · 1,428 sqft · SingleFamily public records · 5 Days on market

Built 1920 5,662 sqft lot $112/sqft · 40% below area Est $265k · 40% under

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Why this score? — see what drove the B grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +25.2/30.0
• ARV discount +15.0/15.0
• DSCR +8.3/10.0
• 1% rule +7.9/10.0
• Livability +4.0/5.0
• Schools +3.8/10.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Here is your chance to buy in this established neighborhood! This home was owner occupied for almost 50 years! This is now waiting for you to make this your own and build lasting memories. This 3 bedroom 1 1/2 bath home is in need of some TLC to bring it back to what it was. This is being sold as is. Seller prefers a quick closing, so cash is preferred. No assignments please.

Key facts

• 5,662 sq ft lot
• 3 parking spots
• Built 1920

Property features AI

Exterior

• Parking: Driveway with space for 3 vehicles
• Utilities: 150 Amp electrical service; Public water; Public sewer
• Home design: Single-family residence; Fixer condition
• Construction: Vinyl siding
• Exterior features: Asphalt roof

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: Three bedrooms on the second level
• Flooring: Hardwood floors
• Bathrooms: One full bathroom on the second level; One half bathroom on the first level
• Heating & cooling: Oil heating with radiant heat
• Interior features: 8 total rooms; Full basement with interior entry; Living room with fireplace
• Laundry & utility: Laundry room with washer and electric dryer hookups

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $358 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Cap rate 9.0% vs local median 5.3% in Troy — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 81/100 on livability (#88 in NY, #1,350 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+; Watch: employment C-, crime F.
• Troy City School District (urban): math 44% / reading 46% proficiency, ranked #467 of 590 in NY (top 79%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Ps 16 (math 52% / reading 52%, grade C-, #988 of 2,108 statewide, top 49%, 248 students, 60% FRL); Troy Middle School (math 22% / reading 43%, grade F, #504 of 729 statewide, top 70%, 786 students, 72% FRL); Troy High School (math 95% / reading 77%, grade A, #347 of 1,100 statewide, top 32%, 1,153 students, 64% FRL) — zoned schools at 65% FRL track the district average.
• Market conditions: Rents rising fast (+4.9%/yr); 220 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 405 units permitted in Rensselaer County in 2024 (224 in 5+ unit buildings).
• This rent runs 33% of the median local income ($76k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Rensselaer County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 4.9% rent growth), your $45k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $160,000

Questions for the listing agent

1. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
5. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
6. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.29% ✓
• Cap rate: 8.98%
• Cash-on-cash: 9.60%
• DSCR: 1.43
• GRM: 6.5

CMA / ARV

• ARV (median comp): $264,799
• List price: $160,000
• Delta: -39.58%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11 Lilac Ln	0.20mi	3/1.5	1,344 (-6%)	5mo	$235,000	$175	77
4 Arts St	0.15mi	3/1.0	1,248 (-13%)	10mo	$330,500	$265	61
14 Cleminshaw Ave	0.32mi	2/1.0 (-1)	1,311 (-8%)	7mo	$259,900	$198	58
16 Cleminshaw Ave	0.31mi	3/2.0	1,290 (-10%)	12mo	$325,000	$252	57
8 The Crossways	0.56mi	2/2.0 (-1)	1,445 (+1%)	10mo	$377,000	$261	57
51 Wynantskill Way	0.65mi	3/2.0	1,450 (+2%)	10mo	$375,000	$259	56
14 Parkview Ct	0.34mi	3/1.0	1,215 (-15%)	2mo	$252,000	$207	56
10 Gene Ave	0.59mi	4/2.0 (+1)	1,350 (-6%)	6mo	$290,000	$215	52
35 Mountainview Ave	0.21mi	3/2.0	1,640 (+15%)	17mo	$280,000	$171	49
2 Miller Ave	0.49mi	3/1.0	1,248 (-13%)	7mo	$105,000	$84	48
120 Winter St	0.43mi	2/1.0 (-1)	1,215 (-15%)	15mo	$202,000	$166	36
30 Wynantskill Way	0.74mi	3/1.5	1,224 (-14%)	13mo	$285,000	$233	31

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 4.88% rent growth · sell at horizon

5-year hold

• IRR: 0.6%
• Equity multiple: 1.02×
• Total profit: $1,006
• Equity at exit: $23,857

10-year hold

• IRR: 12.3%
• Equity multiple: 2.07×
• Total profit: $47,744
• Equity at exit: $13,834

Cash invested: $44,800 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 15 Strongly Tenant-Friendly
• State New York: 15 Strongly Tenant-Friendly · D+10
• County: — inherits STATE
• City: — inherits STATE

NYC rent stabilization (~1M units); 2019 HSTPA strengthened tenant rights; courts deeply backlogged.

Methodology + full state rankings →

ZIP-level market 12180

• Home prices YoY: -33.3%
• Rents YoY: 4.9%
• Active inventory: 220
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $2,061 high
• Mortgage (P&I): −$839
• Tax from tax record: −$364 /mo · $4,368/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$433
• Net cashflow: $358

Break-even live

Break-even rent $1,607

Max offer price $160,000

Occupancy floor 78%

Sensitivity live

Price	-10% $449	-5% $404	+0% $358	+5% $313	+10% $268
Rent	-10% $196	-5% $277	+0% $358	+5% $440	+10% $521
Rate	-1.0pp $439	-0.5pp $399	base $358	+0.5pp $317	+1.0pp $275

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
669 Pawling Ave Troy, NY	4.0	1.0	1700	$2,350	$1.38	21d	1	0.11mi
54 Main Ave Wynantskill, NY	4.0	1.0	1360	$1,950	$1.43	16d	1	0.63mi
102 Main Ave Wynantskill, NY	3.0	1.0	1316	$1,600	$1.22	46d	1	0.83mi
136 Maple Ave Unit 2 Troy, NY	2.0	1.0	1155	$2,000	$1.73	45d	1	0.87mi
110 Colleen Rd Troy, NY	1.0–2.0	1.0	955	$1,550	$1.62	16d	9	0.94mi
110 Project Rd Unit 1 Troy, NY	2.0	1.0	1000	$1,300	$1.30	25d	1	1.20mi

Listing history 2 events

1. 2026-05-18
   status Pending 384-char remark
2. 2026-05-13
   listed $160,000 Active 384-char remark

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast NY · Partial reset (capped growth)

• Current annual tax: $4,368 · $364/mo
• Projected year-2 tax: $4,368 · $364/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°F today · 16 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 6% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,732
• − Mortgage interest: −$8,962
• − Property taxes: −$4,368
• − Insurance: −$800
• − Repairs & maintenance: −$1,979
• − Management: −$1,979
• − Depreciation: −$4,655
• Taxable income: $1,990
• Est. tax owed @ 24.0%: −$477
• After-tax cash flow: $3,824/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Troy City School District
• NCES district ID: 3628950
• Math proficiency: 44% ▲ 6.00%
• Reading proficiency: 46% ▲ 6.00%
• Median HH income: $42,143
• Composite: 37.89/100
• National rank: #4318
• State rank: #467 of 590 in NY

Livability — Troy

• Score: 81/100
• State rank: #88
• US rank: #1350

Category grades

Amenities A+ Commute A+ Cost of living B+ Crime F Employment C- Housing A+ Health & safety A+ User ratings D-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Troy, NY
• County: Rensselaer County · 75,590 people
• City population: 53,479
• Metro: Albany-Schenectady-Troy, NY
• Population (ZIP): 53,479
• Household income: $75,851
• Rent vs Own: 52.1% rent · 47.9% own
• Severe rent burden: 2698.0

Population outlook (Rensselaer County) Hauer SSP2

• Today (2025): 162,400 people
• By 2030: 161,746 · -0.4%
• By 2040: 158,095 · -2.7%
• By 2050: 152,966 · -5.8%
• By 2075: 140,767 · -13.3%
• By 2100: 124,727 · -23.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (70%)
• Race & ethnicity: White 70% Black 12% Hispanic / Latino 8% Two or more races 8% Asian 5%
• Hispanic origin (detail): Mexican 1% Puerto Rican 4%
• Common ancestry: Romanian 5% Lithuanian 5% Slovak 1%
• Foreign-born: 10% · Canada, China
• Languages at home: 88% English-only · Spanish 4% Other Indo-European 2% Arabic 2%

Political lean MEDSL · Rensselaer

• 2024 margin: Toss-up / Even · D 50.7% · R 49.3%
• 2008→2024 swing: -8.0pp toward R · 2008: 9.3pp · 2024: 1.4pp
• All cycles: 2024: D+1.4 2020: D+5.6 2016: R+2.9 2012: D+11.8 2008: D+9.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -142.53%
• Current HPI: 285.0762
• Rent YoY: ▲ 4.88%
• Metro: Albany-Schenectady-Troy, NY
• State GDP YoY: ▲ 2.60%
• F500 in state: 92

Industry mix (Fortune 500 HQ in NY)

Industry	F500 HQs	Revenue
▸Financial Services	10	$950B
▸Consumer Goods	9	$162B
▸Insurance	4	$225B
▸Telecommunications	2	$144B
▸Pharmaceuticals	2	$112B
▸Media / Entertainment	2	$69B

Price history

2 events — show timeline

• 2026-05-18 Pending — Global MLS
• 2026-05-13 Listed $160,000 Global MLS

Property tax history

+11.4%/yr

Latest (2025): $4,368 · -28.1% YoY. Source: county tax records.